The Trump administration took its first steps Tuesday toward an expected lowering of regulatory barriers for cryptocurrency.The Trump administration took its first steps Tuesday toward an expected lowering of regulatory barriers for cryptocurrency.
The Trump administration took its firs steps Tuesday toward an expected lowering of regulatory barriers for cryptocurrency.
In a long-awaited move from the digital assets industry, the Securities and Exchange Commission announced that acting Chair Mark Uyeda has launched a “crypto task” force aimed at “developing a comprehensive and clear regulatory framework for crypto assets.”
During the presidential campaign, Trump promised a crypto-friendly administration for the $3.7 trillion industry.
Though Uyeda announced the initiative, it will be led by SEC Commissioner Hester Peirce. Uyeda is holding the chair set until Paul Atkins gets through the confirmation process and providing enforcement resources.
According to the SEC announcement, the panel’s task will be to develop a clear set of rules while also addressing issues regarding registration of coins
“We look forward to working hand-in-hand with the public to foster a regulatory environment that protects investors, facilitates capital formation, fosters market integrity, and supports innovation,” Peirce said.
Bitcoin rallied on the announcement, up some 2.4% to more than $106,000.
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